Short Interest in Steel Partners Holdings L.P. (NYSE:SPLP) Rises By 657.9%

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 14,400 shares, a growth of 657.9% from the March 31st total of 1,900 shares. Based on an average daily volume of 3,800 shares, the days-to-cover ratio is presently 3.8 days. Currently, 0.5% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Steel Partners in a report on Friday. They set a "strong-buy" rating on the stock.

Steel Partners Price Performance

SPLP stock traded up $0.33 during trading on Friday, hitting $35.33. The stock had a trading volume of 1,668 shares, compared to its average volume of 3,800. Steel Partners has a twelve month low of $27.95 and a twelve month high of $48.45. The stock has a market capitalization of $676.60 million, a P/E ratio of 3.62 and a beta of 1.01. The company's 50-day moving average price is $39.31 and its two-hundred day moving average price is $40.63. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16.

Steel Partners (NYSE:SPLP - Get Free Report) last released its earnings results on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share (EPS) for the quarter. Steel Partners had a net margin of 11.43% and a return on equity of 21.72%. The company had revenue of $497.92 million for the quarter.

Hedge Funds Weigh In On Steel Partners

Institutional investors have recently added to or reduced their stakes in the stock. Teton Advisors Inc. raised its stake in Steel Partners by 4.0% in the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate's stock valued at $553,000 after purchasing an additional 500 shares during the last quarter. HighTower Advisors LLC boosted its stake in Steel Partners by 2.2% in the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate's stock valued at $1,149,000 after acquiring an additional 577 shares during the period. Finally, Gamco Investors INC. ET AL boosted its stake in Steel Partners by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate's stock valued at $4,123,000 after purchasing an additional 3,300 shares during the period. Institutional investors and hedge funds own 50.75% of the company's stock.

About Steel Partners

Steel Partners Holdings L.P., together with its subsidiaries, engages in industrial products, energy, banking, defense, supply chain management, logistics, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, Financial Services, and Supply Chain segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications.

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